Axis Capital Group Business Funding Jakarta Review: How to Get Your Free Credit Report
To get a good deal of loan nowadays, a good credit score is needed. The only way to know your credit score is to check your credit report.
Not only will reviewing your credit report help you get an idea of what your credit score may be (you do have to pay for your actual credit score), it will also allow you to confirm that all the information is correct. One small mistake on your credit report could seriously affect your credit score and potentially cause your rates to skyrocket.
There is only one place to get your free, federally mandated credit reports, also called an “educational credit report,” which this is AnnualCreditReport.com. You are allowed a free credit report from the three major consumer reporting agencies in the U.S.: Experian, Equifax and TransUnion.
A warning is also set for business owners for a lot of advertisers and commercials who offers “free credit report”. Be aware that these companies will give you a free credit report and/or credit score initially, but they will also most likely also ask for your credit card number. If you don’t cancel within a certain time, they’ll charge you for membership.
Checking your credit report is called a soft inquiry, and you can check your credit as much as you want without it negatively affecting your credit score.
Keep in mind that while you’re entitled to a free credit report, you will have to pay for your FICO score, which is the most common credit score. You can go to FICO’s Web site, and your score will probably cost around $40. A situation in which you may want to buy your credit score is when you’re shopping for loans. Your credit score can affect your rate, so knowing your score from each agency may help you decide who will give you the best rate when you borrow money.
These credit scores are only available in some states in Asia and the websites may differ when your business is located in other developing countries. Cities like Singapore, Jakarta, Indonesia and Beijing, China have their own local credit scoring and you may inquire from your business lending company for information.
Above all, it’s important to use credit responsibly. A good credit history and credit score can be the difference between being able to purchase a home, buy a car, or pay for college. Proactively managing your credit report is a great way to stay in control of your finances, and ultimately achieve your goals.